To ensure you never have to worry about being laid off, you should try creating passive streams of income. Those revenue streams will come in handy even if you don’t get laid off – they may help you become financially independent so you can kiss your job goodbye as soon as you see fit.

Here are some ideas as to how to create those passive sources of income.

Buy a Rental Property

While you’ll have to do some basic duties as a landlord, it’s considered a passive income stream. You won’t have to do much work to collect your payday.

Some people have reached financial success by renting a duplex, living in one side of it virtually rent-free while renting out the other side to a tenant. You could also buy a house that’s in need of some TLC and spend a few weeks renovating it in your free hours. After that initial work, you’ll have a passive revenue stream you’ll always be able to count on.

Begin a Blog

Beginning a blog does take some work in the beginning. But once you set up your blog and add some articles, you might be able to turn it into a money maker. It will require some effort in the early months, but if you add in affiliate marketing or sell ads, it might be a long-term moneymaker.

If you have a great idea for a blog, but don’t have the time or effort to do the set-up work, you can always hire writers to provide articles. It will cut into your profits, but it may earn you more money in the long run.

Write an E-Book

Do you know more about a specific topic than almost anyone you know? You can write an e-book about it and potentially make a tidy sum of money. It will take a while to write your book, but after that, it can keep selling forever.

Look for a popular subject and give it your own unique spin. Wouldn’t it be great to make money off of something you did years prior?

Sell Your Photos

If you have a talent for photography, why not cash in on it? It takes a special eye to capture a moment as it unfolds. And it takes a savvy business person to realize that moment might bring in revenue for years to come.

There are numerous websites which allow you to post your photos. You won’t earn much money for a single sale, but over time, one photo can generate a hefty amount of money. And if you’re spending time doing a hobby you enjoy, you’ll have fun while doing it.

Charge on Your Cash-Back Credit Card

This won’t generate a lot of cash for you, but the good news is you won’t have to lift a finger to earn it. Charge any purchases you would regularly make anyway – like gas, clothes, and groceries. Use your cash-back credit card and make sure you pay off the full balance every month.

You’ll get paid to be responsible with your money.